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Rise Up Retail Industry Fundamentals Exam Questions with Answers
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Rise Up Retail IndustryFundamentals Exam Questions with
Answers
products - -physical goods that you can buy and sell
-services - -things that you pay for--someone's expertise--they are
intangible things
-retail - -the process of selling products and services to customers in order
to earn a profit
-customers - -people who purchase goods and services from a business
-retail ecosystem - -an interconnected system of approaches designed to
meet the goal of retail
-goal of retail - -provide customers with the goods and services they want--
when, where, and how they want them
-multichannel retail - -customers have many channels, but the channels are
not connected to one another
-omnichannel retail - -customers have many channels, and the channels are
connected using technology
-manufacturer - -they produce or make finished products
-wholesaler - -buys large quantities of products from the manufacturer and
then sells small quantities to retailers
-what are the 3 distribution channels - -selling directly to customers, selling
through retailers, and selling through wholesalers
-4 types of retail ownership - -independent, corporation, private company,
and franchise
-the majority of retailers have what type of ownership? - -independently
owned
-approximately what percentage of U.S. jobs are retail jobs, as of 2019? - -
20-25%
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